Serneke to build 160 rental apartments in Årsta

Fri, Nov 17, 2017 08:00 CET

Serneke has today signed a turnkey contract with Stockholmshem regarding the construction of 160 homes in Årsta. The order is valued at approximately SEK 330 million.

The project, located within the Sävlången 2 and Idlången 3 properties, is part of the so-called Årstastråket area, where the City of Stockholm plans to create some 3,000 new homes for 7,500 inhabitants over a period of at least ten years in a central and attractive location, with good access to public transport, recreation opportunities and services.

In addition to housing, the contract includes a preschool with four sections, a garage with 45 parking spaces beneath an open courtyard and a number of complementary buildings.

“The project is completely in line with our desired project portfolio, in which we are focusing on public housing and private property companies that manage their properties over an extended period of time. It feels really satisfying to once more gain the trust of Stockholmshem and to be involved in construction that reduces the housing shortage in Stockholm,” says Niklas Wirström, Construction Manager at Serneke Construction East.

Planning will commence in December 2017 and the project will continue until the second quarter of 2021.

The order value of approximately SEK 330 million will be included in order bookings for the fourth quarter of 2017.

This information is such that Serneke is required to disclose under the EU Market Abuse Regulation. The information was submitted under the auspices of the contact persons stated above, for publication on November 17, 2017, at 8.00 a.m. CET.

Serneke is a rapidly growing corporate group active in construction, civil engineering, project development and property management.The Group was founded in 2002 and today has income of nearly SEK 5 billion and nearly 1,000 employees. Through novel thinking, the Company drives development and creates more effective and more innovative solutions for responsible construction. The Company builds and develops housing, commercial buildings, industrial facilities, public buildings, roads and civil engineering projects, and other infrastructure. The Company’s customers are public and commercial clients, and operations are focused on the three metropolitan regions in Sweden, Gothenburg (Region West), Stockholm (Region East) and Malmö (Region South). Serneke’s headquarters are located in Gothenburg and the Company also has offices in Stockholm, Malmö, Helsingborg, Borås, Halmstad, Strömstad, Trollhättan, Varberg and Alingsås. The Company’s Series B shares (SRNKE) have been listed on the Nasdaq Stockholm exchange since November 2016.